Spy FX Review Is Spy-fx.com A Legit Forex Robot

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Spy FX Review: Is Spy-fx.com A Legit Forex Robot?

Spy-fx.com Review: this is the name of a Forex robot that provides its clients with a copy signal service. Is Spy FX a scam Forex robot or a legit product?

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What Are Forex Signals or Indicators?

Most Forex indicators are created for the purpose of giving traders trading signals that are accurate as well as consistent. With a legit indicator system, traders can afford to spend less time monitoring the market.

Traders are provided with what can be termed expert advice from these robots, this is why they are called Expert Advisors (EAs). EAs are sold by indicator vendors.

Spy-FX or Spy FX is a signal providing service whose vendor is not disclosed nor do we have anything on their location. We find it uncomfortable because the website looks anonymous, it is dangerous patronizing unknown Forex vendors. They claim to provide simple solution for traders who want to increase their outcome on the Forex Market.

It is totally in character for Forex EA vendor or signal providers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.

How Spy FX Works

The Spy-FX robot was designed to overcome the gap created by the need for in-depth patience understanding and dedication for each trade. Because many traders leave their trading accounts shortly after starting because of this requirement, the vendor created this service.

It is simply a copy trader like we have come across several times. Those who purchase it get their trading accounts linked to that of the vendor’s master account. By doing this, they use the same strategy used by the vendor’s account and make consistent profit as they do also.

Some features that the vendor claims make the robot unique are as follows:

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Trades are updated in real time
Service fee depends on profit
Requires no VPS/VPN or any special software
Streamless access to verified MyFxBook results
Low entry deposit
Unlimited MT4 app access to your account
No down payment

There are also steps provided for interested traders to start making use of the signal service. It starts with creating an account with PaxForex, a Forex broker.

Spy FX Pricing Structure

What we found in the steps is that to use the Spy-FX Forex robot, traders must make a deposit of $2,000 or more.

Our Opinion On Spy FX

Since traders need to open an account with the Forex broker, PaxForex, it looks like Spy FX is just a front to get clients for the broker. It does not altogether seem like a bad strategy but the minimum deposit is quite high even if PaxForex is legit. We are used to Forex brokers asking for between $100 – $250 minimum.

Clients Feedback

We do not find much that is being said by clients of this company. Since it falsely advertises itself as a robot, we don’t blame disgruntled traders. Trading results that are advertised are also not found. It would have been an advantage if they existed.

Support

To reach the vendors or their customer care representative, traders are directed to use a contact message form or the links to Facebook, Viber or Telegram.

Conclusion

The fact that Spy-FX or Spy FX is really a copy signal service and not an EA as advertised is discouraging. It leads clients to start trading with another Forex broker and will not be satisfactory to those who already have a trusted broker.

We find the funds required to use this service to be high and not competitive. Not much proof is available that t works since we see no client review or results.

TopedgeFX.com

Honest Trading Product | Reviews

Forex Reviews Ι Stocks and CFDs Brokers

When you want to trade Forex, Stocks, Futures, Cryptocurrencies, Bonds or CFDs, there’s always a broker or an exchange where you can open an account to facilitate your trading.

In fact, since trading became popular on the internet, hundreds of brokers have sprang up and they all masquerade as “the best brokers” to trade with on the internet.

Some of the features they use to lure traders include:

  1. Education capabilities
  2. Market research and analysis including weekly trade ideas
  3. AI software for trading
  4. High leverage and tight spreads
  5. Deposit bonuses
  6. Cutting-edge trading platform

Because there are literally hundreds of brokers on the internet offering the same exact thing, one may ask:

How do we choose the best broker and avoid the bad ones?

To answer that question, we’ve selected 3 brokers that we think have at least met industry standards.

These brokers are ranked according to features, level of customer support, regulations, reputation and many other factors.

On the other hand, we leave traders to decide which brokers they want to choose. Usually, one trader’s style is different from another trader’s strategy.

The two traders cannot be satisfied by one broker due to their varying trading styles and needs in general.

The list of the best brokers to trade with

As we’ve said previously, we’ll rank brokers based on their capabilities and most of these parameters are looked at in favor of the client.

So we’ll also look at how they handle customer funds, structure of their business, whether or not they’re regulated and also length of time that they’ve stayed in operation.

On top of that, we usually update this list to reflect any changes or actions that may have been taken against any broker by their respective regulatory authorities.

We’re only listing brokers that are regulated by financial organizations listed below:

Some of the financial regulators above are made up for independently governed agencies while others are operated by the Central bank of the country where the financial regulator is based at.

Our Ratings: 80/100

Withdrawal time: Under 24 hrs

MT4 and MT5: Yes

Minimum Deposit: $100

Support: Very Good

Our Ratings: 75/100

Regulated: FCA 19776 IBC 2020

Withdrawal time: Under 2 hrs

MT4 and MT5: Yes

Minimum Deposit: $50

Support: Very Good

Our Ratings: 75/100

Assets: Forex, Stocks, Options, Crypto

Withdrawal time: Under 2 hrs

Minimum Deposit: $10

Latest Reviews

Feedback

  • TopedgeFX Team on Dynamic Trend Trader Review: Scam Trading Indicator
  • Mark Christopher on Dynamic Trend Trader Review: Scam Trading Indicator
  • Abongwa Bonalais on Price Action ltd Review: is Priceactionltd.com Scam?(Update)
  • Isaac on Livetraders.com Review: Is Live Traders by Jared Wesley Legit?
  • Katherine on Price Action ltd Review: is Priceactionltd.com Scam?(Update)

Archives

  • April 2020 (12)
  • March 2020 (47)
  • February 2020 (26)
  • January 2020 (24)
  • December 2020 (69)
  • November 2020 (41)
  • October 2020 (21)

About Topedgefx.com

Our reviews are honest and truthful. We expose investment wackadoodles on the internet. On the other hand, when a trading product or service is good, we let you know.

TopedgeFX.com

Honest Trading Product | Reviews

Forex Reviews Ι Stocks and CFDs Brokers

When you want to trade Forex, Stocks, Futures, Cryptocurrencies, Bonds or CFDs, there’s always a broker or an exchange where you can open an account to facilitate your trading.

In fact, since trading became popular on the internet, hundreds of brokers have sprang up and they all masquerade as “the best brokers” to trade with on the internet.

Some of the features they use to lure traders include:

  1. Education capabilities
  2. Market research and analysis including weekly trade ideas
  3. AI software for trading
  4. High leverage and tight spreads
  5. Deposit bonuses
  6. Cutting-edge trading platform

Because there are literally hundreds of brokers on the internet offering the same exact thing, one may ask:

How do we choose the best broker and avoid the bad ones?

To answer that question, we’ve selected 3 brokers that we think have at least met industry standards.

These brokers are ranked according to features, level of customer support, regulations, reputation and many other factors.

On the other hand, we leave traders to decide which brokers they want to choose. Usually, one trader’s style is different from another trader’s strategy.

The two traders cannot be satisfied by one broker due to their varying trading styles and needs in general.

The list of the best brokers to trade with

As we’ve said previously, we’ll rank brokers based on their capabilities and most of these parameters are looked at in favor of the client.

So we’ll also look at how they handle customer funds, structure of their business, whether or not they’re regulated and also length of time that they’ve stayed in operation.

On top of that, we usually update this list to reflect any changes or actions that may have been taken against any broker by their respective regulatory authorities.

We’re only listing brokers that are regulated by financial organizations listed below:

Some of the financial regulators above are made up for independently governed agencies while others are operated by the Central bank of the country where the financial regulator is based at.

Our Ratings: 80/100

Withdrawal time: Under 24 hrs

MT4 and MT5: Yes

Minimum Deposit: $100

Support: Very Good

Our Ratings: 75/100

Regulated: FCA 19776 IBC 2020

Withdrawal time: Under 2 hrs

MT4 and MT5: Yes

Minimum Deposit: $50

Support: Very Good

Our Ratings: 75/100

Assets: Forex, Stocks, Options, Crypto

Withdrawal time: Under 2 hrs

Minimum Deposit: $10

Latest Reviews

Feedback

  • TopedgeFX Team on Dynamic Trend Trader Review: Scam Trading Indicator
  • Mark Christopher on Dynamic Trend Trader Review: Scam Trading Indicator
  • Abongwa Bonalais on Price Action ltd Review: is Priceactionltd.com Scam?(Update)
  • Isaac on Livetraders.com Review: Is Live Traders by Jared Wesley Legit?
  • Katherine on Price Action ltd Review: is Priceactionltd.com Scam?(Update)

Archives

  • April 2020 (12)
  • March 2020 (47)
  • February 2020 (26)
  • January 2020 (24)
  • December 2020 (69)
  • November 2020 (41)
  • October 2020 (21)

About Topedgefx.com

Our reviews are honest and truthful. We expose investment wackadoodles on the internet. On the other hand, when a trading product or service is good, we let you know.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Good for Beginners!
    Free Education + Free Demo Account!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

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